The cryptocurrency community has been captivated by the rapid and substantial accumulation of a colossal $3 billion worth of Bitcoin within a mere three months. The identity behind this remarkable Bitcoin accumulation has finally been unveiled, bringing an end to the speculation that has surrounded it.
The wallet that swiftly ascended the ranks to become the third-largest Bitcoin holder on a global scale in just over three months has been linked to Robinhood: Jump Trading Custody, according to insights provided by blockchain intelligence platform Arkham Intelligence.
The journey of this wallet commenced on March 8, a date derived from BitInfoCharts data. Over the ensuing three months and a fortnight, the wallet amassed an impressive 118,000 BTC, equivalent to around $3.08 billion at current market valuations.
The rapid accumulation of Bitcoin within this single wallet fueled a flurry of theories and conjectures within the crypto community. While some speculated that a cryptocurrency exchange was strategically consolidating its holdings, others on Crypto Twitter ventured bolder theories.
One theory suggested that the globally recognized investment management firm, BlackRock, could be the driving force behind this substantial accumulation. This hypothesis gained traction as enthusiasts noted the alignment of BlackRock’s spot Bitcoin ETF filing timeline with the wallet’s substantial transactions.
Nonetheless, the enigma surrounding the wallet’s origin appears to have been dispelled with the revelation from Arkham Intelligence. Notably, the top two positions in the global Bitcoin wallet hierarchy are occupied by Binance and Bitfinex, renowned for their Bitcoin cold wallets. Following closely in the third spot is the wallet linked to Robinhood, and another Binance cold wallet rounds out the top three.